IT Tech Packaging (NYSE:ITP) Shares Up 4% – Here’s Why

IT Tech Packaging, Inc. (NYSE:ITP) was up 4% during trading on Monday . The company traded as high as $0.26 and last traded at $0.26. Approximately 38,019 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 66,179 shares. The stock had previously closed at $0.25.

IT Tech Packaging Stock Up 4.0 %

The business’s 50-day simple moving average is $0.25 and its 200-day simple moving average is $0.24. The company has a market capitalization of $2.62 million, a PE ratio of -0.27 and a beta of -0.17. The company has a current ratio of 1.46, a quick ratio of 1.23 and a debt-to-equity ratio of 0.03.

IT Tech Packaging (NYSE:ITP) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.01) earnings per share for the quarter. The company had revenue of $26.25 million for the quarter. IT Tech Packaging had a negative return on equity of 5.87% and a negative net margin of 14.00%.

About IT Tech Packaging

IT Tech Packaging, Inc, together with its subsidiaries, engages in the production and distribution of paper products in the People's Republic of China. The company operates through three segments: Dongfang Paper, Tengsheng Paper, and Baoding Shengde. It offers corrugating medium papers to companies making corrugating cardboards; and offset printing papers to printing companies.